Sonnedix Announces Completion of Second French Portfolio Refinancing
23 March 2016
PARIS, France – Sonnedix Group, a global IPP, is pleased to announce the completion of the non-recourse debt refinancing of a portfolio of four solar parks totalling 23.6MW across southern France.
The financing, which is for a total of Euro 93.7 million, is provided by MUFG’s banking arm, Bank of Tokyo-Mitsubishi UFJ, and La Banque Postale.
Sonnedix Group’s CEO, Andreas Mustad, commented “This is the second portfolio refinancing the Group has achieved in France in the past four months. This further demonstrates the strength and quality of our portfolio and the good relationship we’ve developed with our banking partners. I’m particularly pleased that we’ve extended our relationship with MUFG who were part of our previous French portfolio refinancing and with whom we are actively engaged around the world. I would also like to extend a warm welcome to La Banque Postale as a new lending partner to the Group. The refinancing maximises the opportunity that the current favourable market conditions bring, thereby creating real value for our shareholders while reinforcing the long-term stability of our French fleet”.
Philip Roberts, Head of Energy & Natural Resources at MUFG, said, “We are very pleased to have been invited to participate in our second French Portfolio refinancing with the Sonnedix Group. We look forward to further extending our relationship with Sonnedix as it continues to develop and grow around the world”.
Sonnedix was advised by Linklaters (legal advisor) and Astris Finance (financial advisor).
Sonnedix is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally. For more information about Sonnedix, please visit www.sonnedix.com
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